ID :
11063
Sat, 06/28/2008 - 23:49
Auther :
Shortlink :
https://oananews.org//node/11063
The shortlink copeid
Oil price near record $142
New York, June 28, IRNA - The price of crude oil has retreated slightly after hitting record highs above $142 a barrel, amid concerns that supply will not meet demand.
New York light crude had climbed as high as $142.26 a barrel, but later fell back to $140.34.
In London, Brent crude was trading at $140.16, having earlier hit $142.13.
Analysts blame the price of crude on a variety of factors from basic supply and demand to hedge funds.
Meanwhile, the chief executive of Gazprom, Alexei Miller, has been talking down the influence of OPEC.
Saying that OPEC had no real impact on prices, he told the Financial Times: "Not a single decision has been passed of late that would really influence the global oil market."
He also said that the world was undergoing "a great surge in oil and gas prices, which will end with prices at a radically new level.
New York light crude had climbed as high as $142.26 a barrel, but later fell back to $140.34.
In London, Brent crude was trading at $140.16, having earlier hit $142.13.
Analysts blame the price of crude on a variety of factors from basic supply and demand to hedge funds.
Meanwhile, the chief executive of Gazprom, Alexei Miller, has been talking down the influence of OPEC.
Saying that OPEC had no real impact on prices, he told the Financial Times: "Not a single decision has been passed of late that would really influence the global oil market."
He also said that the world was undergoing "a great surge in oil and gas prices, which will end with prices at a radically new level.
